Question

The following stock transactions occurred during January 20-- for Shakil Corporation: (a) Issued 6,000 shares of $10 par common stock for $60,000 cash. (b) Issued 4,000 shares of $10 par common stock for $52,000 cash. (c) Issued 4,000 shares of $10 par common stock for $39,000 cash. (d) Issued 5,000 shares of no-par common stock for $55,000 cash. (e) Issued 4,000 shares of no-par common stock for $42,000 cash. (f) Issued 6,000 shares of no-par common stock with a stated value of $8 per share for $48,000 cash. (g) Issued 3,000 shares of no-par common stock with a stated value of $8 per share for $22,000 cash. (h) Issued 3,000 shares of no-par common stock with a stated value of $8 per share for $25,000 cash. Prepare general journal entries to record the stock transactions, identifying each transaction by letter.